tomo logo

$110,000

Beds
4
Baths
2.0
sq ft
1,587

6102 Otoole Ln, Mount Morris, MI 48458

6102 Otoole Ln

Mt. Morris Twp, MI 48458

  • 70 days on market
Cash flowing investment property for sale. 4 bed/ 2 bath tenant occupied house available in Mt. Morris, MI. Fully renovated in 2022 and rented out to a good long term tenant with guaranteed monthly income paying $1200 a month. Great opportunity for an ongoing income from a reliable renter in a solid built home.

Details

Property type

Single Family Residence

Est. home value

$72,438

Lot size

7,405 sq ft

Price per sq ft

$70

Year built

1972

Annual property taxes

$858

Price History

10/13/2024
Realcomp

Realcomp #20240077502

Listed
$110,000
+34.15%
02/03/2023
Realcomp

Realcomp #20221066181

Sold
$82,000

Schools & Community

Elementary school: 

Unknown

Middle school: 

Unknown

High school: 

Unknown

School district: 

Beecher

Negotiation Insights

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Seller could get up to

$22,442
Asking price
$110,000
Closing costs (~8% of asking)
-$8,800
Est. remaining loan balance
-$78,758
Cash to seller
$22,442

This is an estimate of how much the seller could receive at closing after paying off the outstanding mortgage.

Seller’s Loan History

Lender

Academy Mortgage Corp

Loan start date

February 2023

Original loan amount

$80,514

Est. remaining balance

$78,758

Interest rate

6.31%

Loan type

FHA, 30 year

Seller

Chiquita W Johnson

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Similar Homes Nearby

Realcomp
$113,000
4 bd
|
2.5 ba
|
2,033 sq ft
|
House

1275 E Mount Morris Rd, Mount Morris, MI 48458

Realcomp
$110,000
4 bd
|
2 ba
|
1,032 sq ft
|
House

6209 Hilton Ln, Mount Morris, MI 48458

Price drop
Realcomp
$119,995
4 bd
|
2 ba
|
2,476 sq ft
|
Manufactured

7306 N Bray Rd, Mount Morris, MI 48458

Status: Active

Tomo last checked: 12/22/2024 at 10:45 PM

Listing updated: 10/14/2024 at 6:06 AM

Listed by: Scott Sims, GSA Elite Realty Phone #: (586) 806-5848

MLS: Realcomp #20240077502

Realcomp logo

Recently listed in Mt. Morris Twp

$84,900|3 bd|1.0 ba|House
$184,900|4 bd|2.0 ba|House
$159,000|5 bd|2.0 ba|House
$139,900|3 bd|1.0 ba|House
$89,900|2 bd|1.0 ba|House
$130,000|3 bd|2.0 ba|House